I lost $150,000 to an Investment scam

Anonymous | 30 Oct 2023

Investment Scam
"I matched with someone named Ronald Lee Yong Da, a Malaysian residing in Singapore, on the CMB app, and we continued our conversation on Telegram (ID: @YDYD_93). After two weeks of chatting, he sent me a video of him deleting the dating app to prove his seriousness about a relationship and encouraged me to do the same.

Ronald claimed to work as a cyber security consultant at SecureMetric, having moved to Singapore seven years ago. He mentioned owning a car and a condo in the Central Business District (CBD). Despite never meeting in person, I trusted him due to our daily phone calls and his apparent sincerity.

We planned to meet on October 14, but a few days before, he said he had to urgently travel to Vietnam, where he claimed he had to disable his camera due to client confidentiality.

While in Vietnam, he asked for help checking the BTO (Build-to-Order) housing status in Singapore and persuaded me to join an 'investment platform' called 'HLG Private Placement' at www.hlgpvtpeaccsg.com. He insisted it was an opportunity and explained the investment procedures. He claimed government involvement and encouraged further investments. I reluctantly invested $63,000, with $22,000 provided by him.

When I attempted to withdraw the money after completing the 'investment,' the system froze my account, requiring an additional $75,600 to unfreeze it. Despite my doubts, he assured me the money would return, and I ended up taking loans to continue. I had to deposit $50,000 to increase my credit score for a supposed 48-hour withdrawal.

Finally, my account was flagged for potential money laundering due to the unusual source of funds. That's when I realized it was a scam, and I was left with nothing but debts."

Please note that it's important to be cautious and skeptical when dealing with financial matters or online acquaintances, especially if they ask for significant sums of money. Always verify the legitimacy of investment opportunities and be wary of red flags.